While couponing has been practised for a long time in the Western markets, it has just started its footprints in the Indian sector. In western countries, both consumers and brands have excelled the art of online couponing. On the contrary, Indian counterparts have just started with the first leap. Whatever it is, coupons are a part of a great strategy to generate more sales. While West has become acknowledged with it, India may take its own time to make customers and brands aware of this shopping routine.
Whether you are a brand or a consumer, couponing in India is new and has ample opportunities for both of you to make the most out of shopping/selling your commodities. Explore more below:
- Discount Loving Indian Consumers Give A Hope
India is a nation where consumers love to negotiate. It’s a price sensitive country and the one that offers highest discounts wins and gets the most attention. So, what are you waiting for? If you are a brand, it’s easy to get loyal customers just with a little discount using couponing system. There are plenty of ways you can do it.
For instance, give couponing discount offers to those who are ready to buy in bulk, delight your customers with seasonal discounts to clear old inventories and more. The sky is the limit for couponing. Seeing a lot of discount-loving billion people, there is a lot of room for expansion of couponing sites in India. There have been many couponing websites which have already established here and you could be the next.
- Huge Scope For Reaping High ROIs
In India, the intent of purchase is higher for couponing than the conventional sales platforms. In other words, couponing system seems to be a high-return-on-investment distribution channel. The existing customer of a brand lands on a couponing website with a sole motive of getting discounts with the product purchase. Those discounts are not offered elsewhere, he will likely to come back again. As reported by Inc Magazine, the existing customer tends to spend 67 percent more than the new customer. Since you are generating loyal customers with couponing, high returns on investments are assured.
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- Study Shopping Behaviour And Generate More Sales
Couponing, when used rightly with the solid strategy in place, can do wonders for your business. Wondering how? It helps generate loyal customers if you target the right customer with the right offer. You might need to do a bit research about their shopping preferences, needs, wants and purchasing patterns. Once you get an insight into it, generating thousands of loyal customers won’t be a great deal for you. Generating loyal customers in India market isn’t that difficult if you get a hold over their shopping psychology.
- It’s A New Opportunity To Grow In Indian Market
The couponing market has just opened its gates for couponing sites. That means there is a huge opportunity to explore and grow your market. With a low capital investment, there is a huge scope to attract customers who are still buying things in a conventional way. You can even start with affiliate programs for your couponing websites to kick-start your growth story. The market is full of opportunities; you just have to put forward your first step.
- Low Competition In Market Optimises Chances of Success
Though there are a few e-commerce giants in the field, still, the market in India is unexplored yet. Considering the population and purchasing parity of the people, India is a bright economy for entering in the couponing sector. Give your audience the best and relevant offers and they won’t mind coming back to you for more.
Altogether, future of couponing in India seems bright. Considering all the factors and huge consumer base that is ready to spend enormous money on shopping, your business has a great chance to flourish over time. With a few online promotions and SEO, your couponing website might reach the sales target before the set target. Start your venture today!